HSBC

Indiabulls Housing Finance raised $350m in its debut dollar transaction on Tuesday.

Hong Kong scored with a $1bn debut green bond this week, after investors poured more than $4bn into the transaction’s final order book. The deal was a strategic attempt by the government to encourage the development of green financing in the city, but the impact remains to be seen. Morgan Davis reports.

Three Chinese borrowers sold perpetual notes on Tuesday, raising a combined $900m from the rare structure.

Portugal mandated Bank of China and HSBC on Tuesday to place its first renminbi bonds on the China interbank bond market, as it looks to become the first eurozone sovereign to issue Panda bonds.

The Netherlands got a huge reception for its highly anticipated inaugural green bond on Tuesday, with a final book of over €20bn that allowed the sovereign to issue at the upper end of its target.

Nederlandse Waterschapsbank has inaugurated its updated social housing bond framework with a €1bn SRI issue. The new framework includes an environmental aspect alongside pre-existing social elements.

NRW.Bank has joined the list of dollar issuers this week, as the beneficial euro/dollar swap spread for euro funders and tight spread over Treasuries for dollar names proves an attractive lure.

Allied Irish Banks was able to pay a minimum new issue premium for its third home-currency senior bond issued from the holding company, as it builds up its debt for minimum requirements for own funds and eligible liabilities (MREL). HSBC was also issuing from its holding company on Tuesday, but in sterling.

Broadview Industries, a Dutch investment holding company, has launched a €200m multi-maturity dollar and euro Schuldschein. It offers a chunkier pick-up for investors than some of the domestic German deals on offer.

The treasury head for one of Europe’s largest capital markets borrowers, Germany’s KfW, said last week that primary markets syndicates ‘know less about the markets than 10 years ago’, leading to bankers being more conservative about where to price bond issues than in the past.

The Spanish region of Andalusia has sold three long dated bonds in the last week, marking its return to the MTN market after a six year absence.

Tennet, the Dutch electricity transmission company and frequent green bond issuer, returned to the public bond market on Monday, after nearly a year away. It offered benchmark 11 and 20 year euro tranches.